Latest Headlines
Markets close mixed ... Response to $6B bank losses expected soon ... CEO: Chrysler on a roll, can't stop now ... Former Nortel executives acquitted ... News from United Press International.
A judge in Canada found three former Nortel Networks executives innocent Monday in a case of alleged accounting fraud.
Three former top executives of Canada's Nortel Networks Corp., were charged near Toronto Thursday by the Royal Canadian Mounted Police with fraud.
Nortel Networks Corp. agreed to pay $1 million to settle the Ontario Securities Commission's probe of its accounting-fraud charges, the regulator said Tuesday.
Nortel Networks Corp. has reached a tentative settlement with the Ontario Securities Commission over accounting-fraud charges, the regulator said Wednesday.
U.S. securities regulators Monday charged Nortel Networks' former Chief Executive Frank Dunn with cheating investors out of billions of dollars.
Toronto-based Nortel Networks Corp. said Wednesday it will incur a charge to earnings of $2.47 billion to settle two class-action lawsuits.
Nortel Networks, seeking to get back about $13 million of bonuses from three former executives, has sued them saying they breached their fiduciary duty.
Former Nortel executives allegedly used inappropriate accounting methods to trigger large bonuses for management, the Financial Times reported Wednesday.
A U.S. grand jury Friday subpoenaed the records of Canada's Nortel Networks, which is under criminal investigation.
Quotes
United Press International
